Market Update for Upland, CA and Area

Market Update for Upland, CA and Area.

November has come and gone. The only thing current about that month is the fact that all of the market numbers are in for the following summary. If you are interested in Upland, Rancho Cucamonga, Claremont, Fontana, La Verne, Ontario, Chino, Chino Hills, Pomona and Corona, please read on.

There is one group of numbers that go back to October - The Median Home Prices by City. The November median numbers will be reported by C.A.R later, but it is interesting to see that as of October, the combined medians for my cities is now at about the same number as existed in August of 2003. A graph of these medians from 2002 indicated the peak in October, 2006, the lowest number in July, 2009 and an upward trendline ever since. Those that have read my newsletters know that I have always said that "home prices have always increased in any ten year period that you choose". That is still an accurate statement.

Area Summary

The following are summary numbers. Specifics for any of the above individual cities can be seen at UPLAND Homes web page and click on the "R.E.Stats" button on the left. These numbers are for Single Family Residences only.

For these ten cities, November, 2010 compared to October, 2010.

• Active listings - Up 0.15%    (units)
• Pending Sales - Down 1.2%    (units)
• Closed Sales - Down 8.75    (units)
• Average Selling Price -  Up 1.2%  to $314,859
• Average Days On Market - Up 0.6 days to 70.2 for Sold properties
• Average Dollars per Sq. Foot - Up 1.6%
• Months of Inventory - Up to 4.9 from 4.5 Months

Also of interest is the fact that "Standard Sales" were up this month to 38.2% of the closed sales, "Short Sale" percent declined and "Bank Owned" sales increased slightly as a percent of the total.

Often times, numbers create more questions than answers. So, if you have questions about this Market Update for Upland, CA and Area, please feel free to call or write. I can help.

While this information is deemed to be accurate, it can not be guaranteed. Compiled from information from the CRMLS